Question 1

Is Chicago or Memphis cheaper to live in?

Accepted Answer

Memphis, TN is cheaper. Estimated essentials for a single person run about $510/month less than in Chicago, covering rent plus everyday costs. Typical rent is $1,781/mo in Chicago versus $1,274/mo in Memphis.

Question 2

What salary do you need in Chicago vs Memphis?

Accepted Answer

Living comfortably takes roughly $81,000/year before tax in Chicago, IL and $65,500/year in Memphis, TN — a difference of about $15,500. Both figures are after state and local income taxes are accounted for.

Question 3

Is Chicago or Memphis cheaper for a family?

Accepted Answer

Memphis, the same answer as for a single person. Two adults with a pre-schooler and a school-age child run about $9,545/month in Chicago and $8,376/month in Memphis, including county-median childcare.

Question 4

Should I move to Chicago or Memphis?

Accepted Answer

It depends on what you weight. Memphis costs less month to month, but cost is one of six factors — jobs, safety, climate, housing and amenities all differ too. Compare them against your own income and priorities rather than a single ranking.

Metric	Chicago61	Memphis53
Est. monthly cost (single)	$4,293	$3,783
Est. monthly cost (family of 4, incl. childcare)	$9,545	$8,376
Salary for comfort	$81,000/yr	$65,500/yr
Typical rent	$1,781	$1,274
Median home value	$315,200	$157,100
Median household income	$75,134	$51,211
Unemployment	5.9%	5.6%
Housing score	52	65
Jobs score	7	14
Safety score	66	4
Climate score	89	100
Amenities score	73	47
Population	2.7M	629.1K
Summer high / winter low	85° / 21°	92° / 33°

Chicago, IL vs Memphis, TN